NEWS RELEASE

MINIMAL IMPACT ON GLOBAL LOGISTIC PROPERTIES’ JAPAN

OPERATIONS FOLLOWING TOKYO EARTHQUAKE

Singapore, 11 March 2011

wishes to inform its shareholders and business partners that, following the 8.9-magnitude

earthquake in Japan this afternoon, the Company’s staff in its Japan operations are safe

and all accounted for.

Based on the Company’s preliminary assessment, the estimated damage to its JPY515.9

billion or US$6.3 billion portfolio of properties in Japan is approximately JPY3.9 billion or

US$47.5 million and the likely loss of rental income is JPY0.89 billion or US$10.8 million,

with the majority of repairs taking place within the next 30 days. The total estimated cost of

JPY4.79 billion or US$58.3 million is less than 1% of the portfolio value of GLP in Japan.

The Company is working closely with affected customers to minimise disruptions to their

operations.

Jeffrey Schwartz, Deputy Chairman of GLP, who was visiting the Japan operations during

the earthquake stated, " The low level of losses are testimony to the quality of our portfolio

and property management as well as the rapid response of our dedicated team in Japan."

GLP would like to assure its shareholders and business partners that the Company will

continue to monitor the situation and follow developments closely. Any material changes to